Online bill payment mainstream, e-bill usage growing
The 2010 Consumer Billing and Payment Trends Survey revealed that usage of online bill payment has spread throughout the U.S. population during the last 10 years, with consumers of all ages and income levels adopting the service in increasing numbers. In addition, women have edged out men to become the primary users of the service.
"The face of online bill payment has changed significantly over the last decade. Early users were tech-savvy and tended to be young and male, as is typical with new technology. Now it’s moms and seniors and people at all income levels using the service. Online bill payment has become mainstream, and there’s still room to grow."
The Fiserv survey also showed that electronic bills (e-bills), which are received online in place of traditional paper bills, are gaining in popularity. The number of consumer households that pay bills online and also receive an e-bill jumped nine percent between 2009 and 2010.
Hear more about e-bills and their increasing popularity:
How financial institutions can help consumers manage finances in difficult times The prolonged recession has impacted most consumers’ day-to-day habits, as well as their financial activities. According to a recent survey conducted by Forrester Consulting on behalf of Fiserv, there are some ways financial institutions can use the online channel to help consumers weather difficult economic times and feel more in control of their finances.
Watch this video for more on how consumers say the economy is impacting their financial habits:
Consumers felt that their bank or credit union could help them weather difficult economic circumstances by providing more robust online functionalities, including:
Sending alerts to help customers avoid service fees
